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Archive for the ‘salaries and wages’ Category

Gen Y and Housing: What They Want and Where They Want It

May 19, 2015 Comments off

Gen Y and Housing: What They Want and Where They Want It
Source: Urban Land Institute

Contrary to popular belief, most Millennials are not living the high life in the downtowns of large cities, but rather are living in less centrally located but more affordable neighborhoods, making ends meet with jobs for which many feel overqualified, and living with parents or roommates to save money, according to a new report from ULI. Still, despite their current lifestyle constraints, most are optimistic about the odds for improving their housing and financial circumstances in the years ahead.

The Labor Market Returns to Math Courses in Community College (A CAPSEE Working Paper)

May 17, 2015 Comments off

The Labor Market Returns to Math Courses in Community College
Source: Community College Research Center, Columbia University

This paper examines the returns to math courses relative to courses in other subjects for students in community college. Using matched college transcript and earnings data on over 80,000 students entering community college during the 2000s, this paper finds that college-level math coursework has an indirect positive effect on award completion that is stronger than that of coursework in other subjects. There is mixed evidence on the direct effect of enhanced math skills on earnings over other college-level skills.

Overall, the combined direct and indirect effect appears to be adverse: compared with other courses or college pathways, more math coursework in community college is modestly associated with relatively lower earnings in later adulthood. However, this association is sensitive to modeling, and the authors do find heterogeneous results by gender, race/ethnicity, and initial college ability, as well as by math field and level.

What Makes Lawyers Happy?: A Data-Driven Prescription to Redefine Professional Success

May 14, 2015 Comments off

What Makes Lawyers Happy?: A Data-Driven Prescription to Redefine Professional Success
Source: George Washington Law Review

This is the first theory-guided empirical research seeking to identify the correlates and contributors to the well-being and life satisfaction of lawyers. Data from several thousand lawyers in four states provide insights about diverse factors from law school and one’s legal career and personal life. Striking patterns appear repeatedly in the data and raise serious questions about the common priorities on law school campuses and among lawyers. External factors, which are often given the most attention and concern among law students and lawyers (factors oriented towards money and status—such as earnings, partnership in a law firm, law school debt, class rank, law review membership, and U.S. News & World Report’s law school rankings), showed nil to small associations with lawyer well-being. Conversely, the kinds of internal and psychological factors shown in previous research to erode in law school appear in these data to be the most important contributors to lawyers’ happiness and satisfaction. These factors constitute the first two of five tiers of well-being factors identified in the data, followed by choices regarding family and personal life. The external money and status factors constitute the fourth tier, and demographic differences were least important.

State IT Workforce: Facing Reality with Innovation

May 14, 2015 Comments off

State IT Workforce: Facing Reality with Innovation
Source: National Association of State Chief Information Officers

The predicted shortage in the state information technology (IT) workforce has been discussed and debated for over a decade and states have been confronted with numerous challenges when it comes to identifying gaps in a changing IT workforce. A major concern for state CIOs continues to be the significant number of state IT employees who are eligible for retirement or have been eligible, but have postponed retirement due to the economic downturn. In spite of this, there is evidence that the economy is recovering and some states are experiencing record numbers of retirement. This report outlines the current data on the state IT workforce and focuses on innovation, best practices and recommendations.

Final Report of the Military Compensation and Retirement Modernization Commission

May 13, 2015 Comments off

Final Report of the Military Compensation and Retirement Modernization Commission (PDF)
Source: U.S. Department of Defense

We are honored to submit to the President and the Congress of the United States the enclosed recommendations to modernize the Uniformed Services’ (the Services) compensation and retirement system. We are confident these recommendations will ensure that the Services can maintain the most professional All-Volunteer Force possible, during both peacetime and wartime. Our confidence stems from our unwavering commitment to the interests of Service members and their families. In fact, our recommendations, which all members of this Commission unanimously support, are designed to protect both the overall value of the current benefits package and the quality of life of the 21st century Force—those who serve, those who have served, and the families that support them.

See also: Statement by Secretary of Defense Ash Carter on the Military Compensation and Retirement Modernization Commission Report (DoD)

Top-Paying College Majors Earn $3.4 Million More Than Lowest-Paying Majors Over A Lifetime, According To A New Georgetown University Report

May 7, 2015 Comments off

Top-Paying College Majors Earn $3.4 Million More Than Lowest-Paying Majors Over A Lifetime, According To A New Georgetown University Report (PDF)
Source: Center on Education and the Workforce (Georgetown University)

When it comes to earnings, majors matter more than degrees. Over a career, the report finds, college graduates earn $1 million more than high school graduates on average. But averages are misleading: college graduates with the highest-paying majors earn $3.4 million more than the lowest-paying majors.

Using Census data, The Economic Value of College Majors analyzes wages for 137 college majors, including the wages of graduates who go on to earn advanced degrees. It also details the most popular majors, the majors most likely to lead to an advanced degree, and the economic benefit of earning an advanced degree by undergraduate major.

The report’s major findings are:
• Eighty percent of college students study a major linked to careers, while 20 percent major in humanities, liberal arts, social sciences, and arts.
• STEM (science, technology, engineering, and mathematics), health, and business majors are the highest paying, leading to average annual wages of $37,000 or more at the entry level and an average of $65,000 or more annually over the course of a recipient’s career.
• Of the 25 highest-paid majors, economics and business economics are the only two that are not in a STEM field.
• The 10 majors with the lowest median earnings are: early childhood education ($39,000); human services and community organization ($41,000); studio arts, social work, teacher education, and visual and performing arts ($42,000); theology and religious vocations, and elementary education ($43,000); drama and theater arts and family and community service ($45,000).
• Business and STEM majors — two of the highest paying — are also the most common, accounting for 46 percent of college graduates.

The report also finds that graduate degrees lead to higher earnings, especially for Bachelor’s degree holders who majored in health and medical preparatory programs, zoology, and biology.

The Causal Effects of Growing up in Different Counties on Earnings in Adulthood — Percentage Gains/Losses Relative to National Average

May 4, 2015 Comments off

The Causal Effects of Growing up in Different Counties on Earnings in Adulthood — Percentage Gains/Losses Relative to National Average
Source: Harvard University (Equality of Opportunity Project)

How can we improve economic opportunities for low-income children? The Equality of Opportunity Project uses “big data” to develop new answers to this question. The previous phase of the project presented statistics on how upward mobility varies across areas of the U.S. and over time. In the current phase, we focus on families who moved across areas to study how neighborhoods affect upward mobility. We find that every year of exposure to a better environment improves a child’s chances of success, both in a national quasi-experimental study of five million families and in a re-analysis of the Moving to Opportunity Experiment. We use the new methodology and data to present estimates of the causal effect of each county in America on upward mobility.

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